Borrowings increase

20 апреля 2016 года

The MoF's scheduled offering 2-year and 3-year bonds each second week resulted in increased demand for 2-year bonds. Yesterday, the MoF sold UAH706.27m of 2-year bonds as opposed to UAH180.60m of 3-year bonds sold a week ago. Also, the MoF sold 9-month bonds yesterday, but only the low volume of UAH567,000 (par value).

Yesterday's proceeds are the result of accepting all bids which are usually submitted at the same level of interest rates as the MoF's cut-off interest rates set earlier this year for each offered maturity. Only one bidder purchased 9-month bonds and three bidders purchased 2-year bonds. Other bonds received no bids most likely due to different views on interest rates.

At the same time, after receiving UAH706.84m of proceeds from yesterday, the MoF announced an additional auction for today of 3-month and 6-month bonds. This offering is unusual for this year as the MoF usually offers longer term bonds on Wednesday without changes in the schedule. This should be connected with unusual needs in financing as the MoF offers bonds with maturities which were unpopular at primary auctions. Because of this, demand today could be submitted by state-owned banks or otherwise be cancelled.

Источник: ICU

Другие обзоры облигаций от ICU


все компании